The CEO was fired after displaying 'poor judgement involving a recent consensual relationship with an employee.' 9News
CEO Steve Easterbrook will pay US$400,000 to settle charges that he allegedly misled investors about the circumstances of his 2019 firing following a relationship with an employee.
"In making this conclusion, McDonald's exercised discretion that was not disclosed to investors," the SEC said in its announcement of the charges and the settlement.Former McDonald's chief executive Steve Easterbrook will pay US$400,000 to settle charges that he allegedly misled investors about the circumstances of his 2019 firing following a relationship with an employee.
In addition to the US$400,000 civil penalty, Easterbrook is also banned from serving as a director or officer at any company that reports to the SEC. The regulator also found McDonald's violated law, but the SEC is not fining the company "in light of the substantial cooperation it provided to SEC staff during the course of its investigation."The Easterbrook saga
But that allegedly wasn't all. In August 2020, McDonald's filed a lawsuit claiming Easterbrook lied to the board about the extent of his relationships with employees.Former McDonald's chief executive officer Steve Easterbrook left the company after violating company policy by engaging in a consensual relationship with an employee.
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